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Memorandum of Procedure for channeling transactions through Asian Clearing Union (ACU)

Memorandum of Procedure for channeling transactions through Asian Clearing Union (ACU) - FEMA - 21 - Dated:- 8-10-2015 - RBI/2015-16/203 A. P. (DIR Series) Circular No. 21 October 08, 2015 To All Authorised Dealer Category-I banks Madam / Sir, Memorandum of Procedure for channeling transactions through Asian Clearing Union (ACU) Attention of Authorised Dealer Category-I banks is invited to the Memorandum containing detailed procedural instructions for channeling transactions through the Asian Cl .....

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rts of goods and services among the ACU countries. 3. Consequently, payments for all eligible a. export transactions may be made by debit to the ACU Dollar / ACU Euro account in India of a bank of the member country in which the other party to the transaction is resident or by credit to the ACU Dollar / ACU Euro account of the authorised dealer maintained with the correspondent bank in the other member country; b. import transactions may be made by credit to the ACU Dollar / ACU Euro account in .....

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